As the world adjusts to the new normal, the workforce continues to operate with employees working from home. While this approach may be effective for some, it presents significant challenges for companies attempting to execute key processes, operate complex systems, report accurately with data spread across multiple locations, or effectively communicate with teammates—especially in a distributed environment.
Below are 4 challenges that organizations face during the pandemic.
1. Lost Opportunity with Customers
Due to the inaccessibility and management of important emails and physical documents, companies are losing the chance at customers/prospects. Furthermore, some companies’ access to email policies is restricted within the company premises.
2. High Occurrence of Task Redundancy
Without proper coordination and visibility on the team’s tasks, there are cases that an activity is repeated over and over, increasing costs and consuming the time of people and machines involved in the task's completion.
3. High Operational Cost
If an application is not browser based, this would result to high cost of connecting via Virtual Private Network to access local files to process transactions over a desktop application and generate reports.
4. Employee Anxiety
Many people are experiencing emotional distress as a result of the COVID-19 outbreak, which has altered their daily lives in unforeseen ways. Added by long working hours, this pandemic has taken a toll on employees’ emotional well-being.
Businesses will survive and prosper if they can effectively collaborate, communicate, and work toward a single purpose. In terms of responsible forms, the new standard calls for a unified workflow to handle the various transactions, assure requirement compliance, and secure common storage for data retrieval.
Advancing the Role of ERP in Businesses
Investing in Enterprise Resource Planning (ERP) solutions can assist businesses in terms of automating important activities, managing complex systems while adhering to internal rules, gaining real-time visibility into their operations through improved reporting, and saving money through better technology utilization.
It can be difficult to adjust to large changes in corporate processes or approaches so the question is, how do you make sure that your business operates with a strong work process during these trying times?
With NOAH Business Applications’ goal to continue advancing the role of ERP in businesses, we listed 5 key features that explains why NOAH Business Applications is relevant to your company as we recuperate from the pandemic.
1. Integrated Workflow
NOAH Business Applications integrates workflow, including work instructions, document management, approvals per transaction type, SLA, escalation, parallel and consensus approval to keep up with today's changing business landscape.
2. Tight integration of document control
The galleries of NOAH Business Applications have tight connection with the document control system to give artificial intelligence solutions in the transaction workflow to help organizations efficiently manage large documents. All required documents are attached and saved in the document control system, allowing for exact document retrieval and management. NOAH Document Control is a digital structure where documents can be viewed anytime, anywhere complete with originating transaction.
3. Comprehensive approval matrix
NOAH Business Applications is designed to help you arrange your financial data and meet the demands of complex regulatory regulations. The Validation Manager in NOAH Business Applications is a validation layer tool that follows the Intra and Inter Validation Reporting Standards.
4. Business Rules-driven
The foundation of NOAH Business Applications is the Business Rules. Process flow, workflow, field definition, formula, validation and controls are all organized in the business rules.
5. End-to-end solution in a single platform
NOAH Business Applications provides an end to end solutions from Financials; Financial Consolidation; Warehousing; Production; Banking; Distribution; Forecasting, Planning, and Budgeting; Treasury and Loan Management; Realty; Human Resources Management System; Procurement Management; Project Management; Customer Relation Management; Mobility/IoT; Analytics, Reporting, and Dashboard, and; Data Management. This gallery of business applications can also complement, or supplement current systems depending on their state.
ERP solutions provide continuing assurance that operations are safe from data breaches and cyberattacks, allowing a company to adhere to industry best practices. As fraud and cyberattacks are more common during times of economic instability, these verifications are becoming increasingly vital.
Contact us today to learn how we can help you advance the role of ERP systems in your business, whether you're thinking about adopting an ERP system, updating an existing system, or even if you're not sure if you need one yet!
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